Establishes "Minority and Women-Owned Businesses State Contractor Remedies Act."

This bill establishes the "Minority and Women-Owned Businesses State Contractor Remedies Act" requiring New Jersey State agencies to set specific contract utilization goals for minority and women-owned businesses based on a 2024 disparity study. It sets detailed percentages for contracts across different categories, including 24.26% of construction contracts for women-owned businesses and 10.14% for Hispanic American-owned businesses. State agencies must develop annual plans to achieve these goals and make a "good faith effort" to meet them, with remedial actions required if they fail to do so. Prime contractors are also required to make good faith efforts to meet subcontractor goals for minority and women-owned businesses. The bill amends previous set-aside laws by removing goals for minority and women-owned businesses and shifting oversight to the Department of the Treasury's Office of Diversity and Inclusion.